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HomeMy WebLinkAboutScan_1223 I: 23 ~-.---\ PlIi '* .......ll.~ In o&se, how.v.r, the leo.ees ehall at any time, by trust deed or mortgage of their lea..hold intenot, for the purpooe ot seouring the ~D19nt ot any iosu. of bonda or otblr in debtedneesl authorize the mortgage. or trustee thereln named on their behalf and in th.ir stead to enter upon the leased premises and reoonstruot or repair any building or build ings on the !ea..d premis.s damag.d or deotroyed by fire, suoh insurance shall be equally avallab to suoh truote. or mortgagee aD to the 1.s8e.s, ae above provlaed. and nh81l iD like eTent an~ to like exteDt. at their expens., be applied to the repair am nOCllst:ruct ion ot suoh bUlldink; .nd 1n &uoh ...nt. . bon 14 tho le..... f o. .ny ....on f. U or re fu eo tore cone t ruo t .ald bu l1d t ing. or repair any damge thereto wi thin a reaeonable time after th? colleotion of the insur-: anoe, &8 aforesaid. b~ the trustee. as atoresaid. then in such eTent, toe trustee or mortgagel l ; in sa 1d truot deed or mortgage shall be fully au tho r1 zed and empowered to aot in the premises tor the proteotion of their interest by oausi~ the moneya eo oolleoted ao afore8aid. to be applied to the repair or reoonet:ruotlon 0 f the building or struoture 80 injured or de.troyed i l and In oooh eTent. the Truetee herelD named. or any other trootee aoting a8 Its auooeoaor in the oollection of said insurance, ohaU oo-operate with the trust company or mortgagee that , ! may be named in sa 1d trust deed or mortgage in seeing that said insurame monoys are properly,' applied to the rebuilding and reoonstr.lotion ~f the 1uildin'.'s or improvements 80 injund or des:;r oyed by fin. If default shall be :::ade on the rart of the lessees in tbt p~ment of any rent. taxes~ or insurano. pre:niulll8 which may fall due und.r the terms of thiS leaee. and if suoh dsfaul t shlu j oontinue for t'/;811ty da;;s after the same shall b8corr.e due and p8:1'8ol8. then in such evont. the' j lesoors may at any time after the expiration of said t~enty days eleot to terminate thia Jeasti I la:1d after giving twenty days notioe 0 f their intention so to do (dur ing which said twenty day~ , I I I ! i ! i I I lessees may pay said rent. taxes or insuranoe pre:..ium8), the lessors IIBY (unless payment is made ~itbin said twenty days as aforesa14) re-enter upon the leased premises with or without IjUdiCial process. and take possession t:;ereof; and thereupon this lease sr.all be Void. and the les80ro shall repossess the same as in their for::-.er estate. If default Rhall be trade under the terms of this 18 ase b~' the 1 C8sees in the payme nt of a~ assessments for publio improyements construoted or placed iD the streets adjoining or ',appurtenant t:> the above described property. suoh as paYing streets. laying sewers. build in g I oidewalk8 or 0 the I' similar improTemen ts. and the amount thereof aha 11 no t be paid by the less'bs !within tw.nty days after the same shall be'30m8 due and rayable. then anti in such eTent the i ',lessors may, at their option. eleot to terminate this lease. and after giy 1n8 twenty days , notioe of such clleotion (during whioh twenty day period lessees l:.8y pay all sums so due. /lith' interest thereon to date of payment at eight per oent per annum am avoid forfeiture) the I les80rs may re-enter upon the leaDed premises. with or 7.i thout judicial prooess, and take p08~ .es810n thereof, and +;hereupon thi8 lease shall be void and the loosor8 ahall re-poS88S0 the sald leas.d pntmise8 a8 In their former esta". :PROVIDED HOIXVZR, that if under the terms of any suoh assessment. the owner of said property shall have the option of paying sa 1d aS6eosmen t8 in a nuual ill8tallmen tel 1:1e said 188s88s shall haT6the right and prlvilege of making said paymente in annual installments ID ooordaoo. wlth 8Uohprovisl0Jls without ulv1ng or violating a~ of th91r r~hts. hereund.r; Dl in 8uoh ev.nt the les.... herein shall be allow.d the same time tor IIBkinp- said P8ymen 1a 8 wOuld be allow.d the le880rw ln oaee this leas. had not b.en oxeouted. .______11 default shall b. made on the part; of the lee.... In the performance of or oom- llano. with any of the hrll'8 of tb 18 agreement. .xoept as hereinb.fore prov ided, and saa hall oontinue for three month8 after noUo. thereo f shall haT' been giT.n. then and 1n 8Uab ;: ~~~<,'~ ,~,; 'I-:;-;';:;d,L~~ 'I ~ , 1: ~. '.. ';:~..' ~~::~:t~:..'?\~~~.~.~':~::